Permanent Account Number

Understand Your PAN Card

Income Tax - Whether you are an Indian citizen or an NRI, if you are filing taxes or have financial transactions in India you will almost always need a PAN card....

Read More

PAN Meaning, Significance, who can apply & Procedure

Income Tax - Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN....

Read More

All About Permanent Account Number (PAN), Form 60 & Form 61

Income Tax - Permanent Account Number (PAN) is a ten-digit unique alphanumeric number issued by the Income Tax Department. The Primary purpose of the PAN is to bring a universal identification to all financial transactions and to prevent tax evasion by keeping track of monetary transactions....

Read More

PAN Card- Structure, Who need to have, Mandatory Furnishing

Income Tax - Introduction: Every person who is required to file ROI shall get himself registered with the Indian Revenue Authorities. On being registered, such a person is alloted an identification number, commonly known as Permanent Account Number(PAN). Sec. 139A of Income Tax Act,1961 applies for Pan Card. Structure: Pan card is issued under Sec 139...

Read More

Govt further defers Due date of linking of PAN card with Aadhaar

Income Tax - In this, respect the Central Board of Direct Taxes (CBDT) had as of late told that the due date for connecting PAN card with Aadhaar with the end goal of income tax return filing has been reached out till 31st March 2019....

Read More

Individuals can Now apply for PAN online with digital signature

Income Tax - With effect from September 6, 2015, facility for digital signature certificate (DSC) based PAN application has been enabled in New PAN Form 49A for Individuals. Guideline for DSC based Online Application for New PAN Card in Form 49AA (a) An applicant will fill Form 49AA online and submit the form. Non-citizens of India should only [&helli...

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Allotment of free of cost instant e-PAN on near to real time basic

Income Tax - Important Note: Instant e-PAN facility is Free of cost and instant allotment of e-Pan and is available only for a limited period on first come first serve basic for valid Aadhaar  holders. Prerequisites for e-PAN: Applicant already having PAN should not apply for e-PAN The e-PAN facility is ONLY for resident individual (Except Minors and...

Read More

Caution – Online PAN applicants

Income Tax - The general public is hereby informed that the Income Tax Department (ITD), Government of India has appointed only two entities namely NSDL e-Governance Infrastructure Limited (NSDL e- Gov) and UTI Infrastructure Technologies Services Limited for purpose of receiving and processing of PAN applications. ...

Read More

No supporting document required for change of ‘gender’ to ‘transgender’ in PAN

Income Tax - New PAN allotment and Change request applications with ‘gender’ as ‘transgender’ is allowed without any hassle. Also, there is no requirement of depositing any supporting document for change of ‘gender’ to ‘transgender’ vide PAN Change request application made either through the portal of NS...

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Requirement for obtaining PAN card eased for corporate assessees

Income Tax - Requirement for obtaining PAN card u/s 139A of IT Act, 1961 eased for corporate assessees In case of a company, an application for incorporation, allotment of Permanent Account Number (PAN) and allotment of Tax Deduction and Collection Account Number (TAN) may be made through a Common Application Form submitted to the Ministry of Corporat...

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Mere allotment of PAN would not make allottee a Separate Entity

Sardar Vallabhbhai Patel Education Society Vs. ITO (Gujarat High Court) - Mere allotment of PAN under section 139A of the Act would not make the allottee necessarily a separate entity for the purpose of assessment of tax. The statute recognizes certain eventualities where quite outside the requirement of payment of tax and for filing return of income, the Assessing Office...

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Text of SC Judgment on Aadhaar Card Linkage With PAN

Binoy Viswam Vs Union Of India & Ors. (Supreme Court of India) - (i) We hold that the Parliament was fully competent to enact Section 139AA of the Act and its authority to make this law was not diluted by the orders of this Court. (ii) We do not find any conflict between the provisions of Aadhaar Act and Section 139AA of the Income Tax Act inasmuch as when interp...

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Section 206AA not overrides other provisions of Income Tax Act, 1961

Nagarjuna Fertilizers and Chemicals Limited Vs ACIT (ITAT Hyderabad) - Assessee cannot be held liable to deduct tax at higher of the rates prescribed in section 206AA in case of payments made to non-resident persons having taxable income in India in spite of their failure to furnish the Permanent Account Numbers....

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Draft PAN Rules: Compulsory for Transaction above 2.50 Lakh; Father name not must in case Mother is single parent

F.No. 370142/40/2016-TPL (Part-I) - (31/08/2018) - CBDT proposed to amend Income Tax Rule 114 related to PAN and proposed to make PAN compulsory for transactions of Rs. 250000 or more and also proposed to amend  Form number 49A and Form number 49AA to provide that in case of Kids of Single Mother father’s name shall not be mandatory in PAN applic...

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How to register and submit Statement of Reportable Account

Notification No. 4 of 2018-DGIT(S) - (05/04/2018) - Procedure for registration and submission of Statement of Reportable Account as per section 285BA of Income-tax Act, 1961 read with Rule 114G of Income-tax Rules, 1962. ...

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How to register and submit statement of financial transactions (SFT)

Notification No. 3 of 2018-DGIT(S) - (05/04/2018) - Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962. ...

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How to register and submit Form No. 61 under Income Tax Rule 114D

Notification No. 2 of 2018-DGIT(S) - (05/04/2018) - As per sub-rule (1)(i) and sub-rule (4) of Rule 114D, the statement in Form No. 61 shall be furnished through online transmission of electronic data to a server designated for this purpose and in accordance with the data structure specified in this regard by the Principal Director General of Income-...

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How a person not having PAN can submit Form No. 60

Notification No. 1 of 2018-DGIT(S - (05/04/2018) - Under electronic verification, the individual or a person (not being a company or firm) who does not have a permanent account number and who enters into any transaction specified in under Rule 114B of the Income-tax Rules, 1962, shall make a declaration in Form No. 60 giving therein the particulars ...

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Recent Posts in "Permanent Account Number"

Understand Your PAN Card

Whether you are an Indian citizen or an NRI, if you are filing taxes or have financial transactions in India you will almost always need a PAN card....

Read More
Posted Under: Income Tax | ,

Draft PAN Rules: Compulsory for Transaction above 2.50 Lakh; Father name not must in case Mother is single parent

F.No. 370142/40/2016-TPL (Part-I) (31/08/2018)

CBDT proposed to amend Income Tax Rule 114 related to PAN and proposed to make PAN compulsory for transactions of Rs. 250000 or more and also proposed to amend  Form number 49A and Form number 49AA to provide that in case of Kids of Single Mother father’s name shall not be mandatory in PAN application […]...

Read More

PAN Meaning, Significance, who can apply & Procedure

Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN....

Read More
Posted Under: Income Tax |

All About Permanent Account Number (PAN), Form 60 & Form 61

Permanent Account Number (PAN) is a ten-digit unique alphanumeric number issued by the Income Tax Department. The Primary purpose of the PAN is to bring a universal identification to all financial transactions and to prevent tax evasion by keeping track of monetary transactions....

Read More
Posted Under: Income Tax |

Individuals can Now apply for PAN online with digital signature

With effect from September 6, 2015, facility for digital signature certificate (DSC) based PAN application has been enabled in New PAN Form 49A for Individuals. Guideline for DSC based Online Application for New PAN Card in Form 49AA (a) An applicant will fill Form 49AA online and submit the form. Non-citizens of India should only [&helli...

Read More
Posted Under: Income Tax |

PAN Card- Structure, Who need to have, Mandatory Furnishing

Introduction: Every person who is required to file ROI shall get himself registered with the Indian Revenue Authorities. On being registered, such a person is alloted an identification number, commonly known as Permanent Account Number(PAN). Sec. 139A of Income Tax Act,1961 applies for Pan Card. Structure: Pan card is issued under Sec 139...

Read More
Posted Under: Income Tax |

Govt further defers Due date of linking of PAN card with Aadhaar

In this, respect the Central Board of Direct Taxes (CBDT) had as of late told that the due date for connecting PAN card with Aadhaar with the end goal of income tax return filing has been reached out till 31st March 2019....

Read More
Posted Under: Income Tax |

Allotment of free of cost instant e-PAN on near to real time basic

Important Note: Instant e-PAN facility is Free of cost and instant allotment of e-Pan and is available only for a limited period on first come first serve basic for valid Aadhaar  holders. Prerequisites for e-PAN: Applicant already having PAN should not apply for e-PAN The e-PAN facility is ONLY for resident individual (Except Minors and...

Read More
Posted Under: Income Tax |

Caution – Online PAN applicants

The general public is hereby informed that the Income Tax Department (ITD), Government of India has appointed only two entities namely NSDL e-Governance Infrastructure Limited (NSDL e- Gov) and UTI Infrastructure Technologies Services Limited for purpose of receiving and processing of PAN applications. ...

Read More
Posted Under: Income Tax |

No supporting document required for change of ‘gender’ to ‘transgender’ in PAN

New PAN allotment and Change request applications with ‘gender’ as ‘transgender’ is allowed without any hassle. Also, there is no requirement of depositing any supporting document for change of ‘gender’ to ‘transgender’ vide PAN Change request application made either through the portal of NS...

Read More
Posted Under: Income Tax |

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